PetroChina agrees to a $2.2bn Encana natural gas deal

PetroChina agrees to buy a 49.9% stake deal in Canadian firm Encana's natural gas project in Alberta. According to Encana, the project contains supplies equivalent to nearly nine billion barrels of oil.

PetroChina the country's biggest oil and gas producer, will pay $2.2bn for the stake. Earlier this week, PetroChina said it would buy BHP Billiton's stake in an Australian liquefied natural gas project as well.